Business

Deputy Minister: UKVFTA to officially enter into force on May 1

The Vietnamese Government has issued a Resolution approving the UK-Vietnam Free Trade Agreement (UKVFTA) and will complete procedures this month to officially bring it into force on May 1, Deputy Minister of Industry and Trade Dang Hoang An has said.
Deputy Minister: UKVFTA to officially enter into force on May 1 ảnh 1Deputy Minister of Industry and Trade Dang Hoang An (Photo: VNA)

Hanoi (VNA) - The Vietnamese Government hasissued a Resolution approving the UK-Vietnam Free Trade Agreement (UKVFTA) andwill complete procedures this month to officially bring it into force on May 1, DeputyMinister of Industry and Trade Dang Hoang An has said.

During phone talks with Minister of State for Trade Policy Greg Hands on March 16,An said the UKVFTA temporarily took effect from January 1 to ensure undisruptedtrade between Vietnam and the UK.

Hands expressed his thanks to the VietnameseGovernment and especially the Ministry of Industry and Trade for their closecoordination in signing and handling procedures to put the deal into force atthe earliest possible time.

An was also delighted at the ratification of theUKVFTA by the two nations.

Regarding the UK’s bid to join the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP), Hands thankedVietnam for its stance and support over recent times and expressed his hope of receivingfurther assistance to step up the process.

On the expansion of the CPTPP to other economies, Ansaid Vietnam will follow domestic procedures, including reporting to theNational Assembly for approval.

Both sides agreed to hold the 12th meetingof the Vietnam - UK Joint Economic and TradeCommittee (JETCO) in August if conditions allow, assign technical teams toreview the implementation of documents reached at JETCO 11, and offer specificsuggestions to JETCO 12 for discussion.

Deputy Minister: UKVFTA to officially enter into force on May 1 ảnh 2Garment sector puts high hope on EVFTA (Photo: VNA)

According to the General Departmentof Vietnam Customs, two-way trade between Vietnam and the UK reached 1.024billion USD in the first two months of this year, a 20.05 percent increase year-on-year.The UK’s exports to Vietnam hit 96.3 million USD.

There is space for Vietnam’s exportsto the UK to grow, especially mobile phones, spare parts, apparel, footwear,aquatic products, wood and wooden furniture, computers and accessories, cashewnuts, coffee, and pepper.

Bilateral economic and trade ties areexpected to continue being a spotlight in the relationship./.

VNA
#UK-Vietnam Free Trade Agreement #Vietnamplus #Vietnam News Agency #Ministry of Industry and Trade #Comprehensive and Progressive Agreement for Trans-Pacific Partnership #Vietnam - UK Joint Economic and Trade Committee United Kingdom Vietnam
Follow VietnamPlus

Related News

UKVFTA hoped to promote Vietnam’s exports

UKVFTA hoped to promote Vietnam’s exports

The UK-Vietnam Free Trade Agreement (UKVFTA), which became effective on January 1, is expected to create a strong motivation pushing Vietnam forwards on the path of economic development and international integration.
UKVFTA - a boost to Vietnam-UK trade

UKVFTA - a boost to Vietnam-UK trade

After the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic.

See more

Yen Huong Xua company introduces solutions to combat counterfeit and imitation goods (Photo: VNA)

Fight against counterfeit goods fostered amid rising digital-era fraud

Dr. Bui Van Quyen, Director of the Anti-Commercial Fraud and Counterfeiting Institute, warned that counterfeit goods have become a global challenge, exacerbated by the rise of online platforms and digital technologies. While these innovations drive economic growth, they also create fertile ground for fraudulent activities.

The fuel storage tank area of the Nghi Son Refinery and Petrochemical Plant is located in the Nghi Son Economic Zone in Nghi Son ward, Thanh Hoa province. (Photo: VNA)

Nghi Son refinery receives over 950,000 barrels of Congo crude oil

Diversifying crude oil supply sources is considered crucial for Nghi Son Refinery and Petrochemical LLC (NSRP) in ensuring stable feedstock supplies and safeguarding domestic fuel supply, particularly as traditional crude imports from Kuwait have been affected by tensions in the Middle East.

Production of electronic components at Star Engineers Vietnam Co., Ltd. in Binh Xuyen I Industrial Park, Phu Tho province (Photo: VNA)

Vietnam looks to expand fiscal space to support double-digit growth

Experts emphasise that fiscal policy should move beyond a supportive role to actively lead growth. Continued and selectively expanded tax and fee reductions could directly ease cost pressures on businesses, enabling them to sustain operations and expand investment.

Ngo Quang Hung, representative of the Vietnam Trade Office in Malaysia, introduces Vietnamese products at the Melaka International Halal Fair, held from May 16-19, 2026. (Photo: VNA)

Vietnam, Malaysia promote smart business connectivity

Malaysia is paying close attention to Vietnam’s Doi Moi (Renewal) reforms, particularly in land policies, rice production technologies and seafood industry development, as both sides seek to expand practical cooperation.

The exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system. (Photo congly.vn)

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.

Le Son Phong, Deputy Director of the Da Nang Department of Science and Technology, speaks at the press conference announcing the Da Nang Venture and Angel Summit 2026. (Photo: VNA)

Da Nang to host international venture capital forum later this month

Le Son Phong, Deputy Director of the Da Nang Department of Science and Technology, said DAVAS 2026 is not merely an investment-matching event for startups, but also demonstrates the city’s commitment to promoting innovation, developing the knowledge-based economy and creating a favourable environment for technology enterprises and startups.

Visitors explore southern Vietnam's products (Photo: vNA)

Vietnam, Cambodia boost supply chain connectivity

Total two-way trade neared 10.1 billion USD in 2024, up 17.5% year-on-year and jumping to more than 11 billion USD in 2025. Vietnam’s key exports to Cambodia include apparel, iron and steel, petroleum, machinery and equipment, chemicals, and processed food. Its main imports are cashew nuts, rubber, farm produce, and industrial raw materials.

Cao Thanh Dinh, founder and CEO of ANPz Co., Ltd (All Nippon Partners) in Japan (Photo: VNA)

Resolution 68 boosts investor confidence in Vietnam’s long-term outlook

Cao Thanh Dinh, Founder and CEO of ANPz Co., Ltd (All Nippon Partners) in Japan, said that after one year of implementation, Resolution No. 68-NQ/TW of the Politburo on private sector development has sent a positive signal to investors by affirming the private sector as a key driver of sustainable and long-term development.

To promote the local lychee brand, expand consumption markets and enhance the fruit's value, Bac Ninh province is organising various trade promotion activities and experiential tourism programmes during the 2026 lychee season. (Photo: VNA)

Bac Ninh promotes lychee tourism with 36 model orchards

According to the Bac Ninh Centre for Culture and Tourism Promotion, the orchards must comply with VietGAP, GlobalGAP or organic production standards while offering suitable conditions for experiential tourism activities. They are also required to connect with nearby tourist attractions, craft villages and historical sites to form integrated tour routes.

Ha Long-Mong Cai Expressway (Illustrative photo: VNA)

Quang Ninh takes lead in public investment disbursement

As of May 13, the northern province had disbursed more than 5.64 trillion VND (213.9 million USD) in public investment capital, fulfilling 24.2% of its annual target and 54% of its disbursement target of 10.56 trillion VND for the year's first half.